Mueller Industries, Inc. (MLI) Stake Decreased by Voya Investment Management LLC

Voya Investment Management LLC decreased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 8.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,856 shares of the industrial products company’s stock after selling 1,999 shares during the period. Voya Investment Management LLC’s holdings in Mueller Industries were worth $674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MLI. Northern Trust Corp boosted its stake in shares of Mueller Industries by 0.4% in the first quarter. Northern Trust Corp now owns 758,298 shares of the industrial products company’s stock worth $19,836,000 after acquiring an additional 3,210 shares during the period. BlackRock Inc. boosted its stake in Mueller Industries by 0.6% during the first quarter. BlackRock Inc. now owns 7,469,876 shares of the industrial products company’s stock valued at $195,412,000 after buying an additional 45,531 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Mueller Industries by 13.0% during the first quarter. JPMorgan Chase & Co. now owns 163,761 shares of the industrial products company’s stock valued at $4,284,000 after buying an additional 18,847 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Mueller Industries by 13.7% during the first quarter. New York State Common Retirement Fund now owns 76,950 shares of the industrial products company’s stock valued at $2,013,000 after buying an additional 9,300 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in Mueller Industries by 18.3% during the first quarter. California Public Employees Retirement System now owns 169,449 shares of the industrial products company’s stock valued at $4,433,000 after buying an additional 26,203 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

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In related news, Director John B. Hansen sold 4,000 shares of the stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $32.25, for a total transaction of $129,000.00. Following the completion of the transaction, the director now directly owns 45,607 shares of the company’s stock, valued at $1,470,825.75. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott Jay Goldman purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The shares were purchased at an average cost of $33.24 per share, with a total value of $33,240.00. Following the completion of the purchase, the director now owns 11,000 shares of the company’s stock, valued at approximately $365,640. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 9,500 shares of company stock valued at $306,220. 2.80% of the stock is owned by corporate insiders.

Separately, ValuEngine lowered Mueller Industries from a “hold” rating to a “sell” rating in a research note on Monday, September 17th.

Shares of Mueller Industries stock opened at $25.35 on Friday. Mueller Industries, Inc. has a 12 month low of $25.20 and a 12 month high of $37.57. The company has a market cap of $1.67 billion, a P/E ratio of 17.01 and a beta of 1.44. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.43 and a quick ratio of 2.35.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, July 24th. The industrial products company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Mueller Industries had a return on equity of 16.10% and a net margin of 3.59%. The company had revenue of $662.77 million during the quarter, compared to analyst estimates of $663.41 million. Research analysts predict that Mueller Industries, Inc. will post 1.82 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 7th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Thursday, September 6th. Mueller Industries’s payout ratio is presently 26.85%.

Mueller Industries Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, plastic fittings, line sets, and related components for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.

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